The Indian markets are set to stage a gap up opening as indicated by the Nifty futures traded on the Singapore Exchange. The SGX Nifty also known as the Singapore Nifty was up nearly 1 per cent or 131 points at 14,487. Meanwhile, other Asian shares markets were on the defensive on Monday as rising COVID-19 cases and doubts over the ability of vaccine makers to supply the promised doses on time soured risk appetite.
MSCI's broadest index of Asia-Pacific shares outside Japan was barely changed at 718.72.
The benchmark is below the record high of 727.31 touched last week but up 8.5 per cent so far in January, on track for its fourth straight monthly rise.
Japan's Nikkei fell 0.1 per cent.
Australian shares were higher after the country's drug regulator approved the Pfizer/BioNTech COVID-19 vaccine with authorities saying a phased rollout will begin late next month.
Global COVID-19 cases are inching towards 100 million with more than 2 million dead, though financial markets have been buoyant on hopes of a vaccine and a quick economic revival.
Back home, Reliance Industries will be in focus after it reported highest ever quarterly net profit of Rs 13,101 crore in December quarter.
Tata Motors will be on investors' radar after it increased prices of its passenger vehicle by up to Rs 26,000 on the back of rising input costs and material costs of steel, precious metals and semiconductors.
Yes Bank will be in focus after it reported profit of Rs 151 crore against loss of Rs 18,560 crore during the same quarter last year.